- Review the previously assigned readings.
- Look at the following supplemental resources:
- Consumer behaviour, in Wikipedia.
- Abraham Maslow’s Hierarchy of Needs, in Wikipedia.
- 14 international movie posters that are very different from the US version, in Buzzfeed.
- Use the following two resources to find out about a novel invention – the Human Hamster Wheel Standing Desk. You will use this invention as the subject for your Customer Behaviour Skills learning challenge (and also for the Researching needs skills learning challenge and the Value proposition skills learning challenge):
The purpose of this learning challenge is to:
- Assess consumers’ behaviour for this product, their decision-making process, and what marketing channels would be used (B2B, B2C or both) to reach customers, in facilitating them to buy this product.
- Document and share your learning experience by posting a blog entry.
- Learn from your peers regarding how they would assess consumer behaviour for this product.
Value of this exercise
With an understanding of customer behaviour and what motivates them to buy, it will be easier to select cost-effective sales tactics and promotions to successfully reach the customer and generate a positive return on investment.
In the ‘real world’, companies try to learn as much as they can about the customer’s purchasing development process. This helps them convert browsing consumers into paying customers.